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Boston Properties, Inc. (BXP), established in 1970 by Mortimer B. Zuckerman and Edward H. Linde, is a self-administered and self-managed real estate investment trust (REIT). The company is renowned as one of the largest owners, managers, and developers of premium office properties in the United States. With its headquarters in Boston, the company maintains significant operational presence in key markets including Boston, New York, San Francisco, and Washington, D.C.
Listed as a public company since June 1997, Boston Properties has built an impressive portfolio of over 190 properties, encompassing approximately 53 million rentable square feet. The company's properties are primarily first-class office spaces, but also include a hotel, two residential properties, and five retail properties. These assets are strategically located in central business districts (CBDs) and suburban office centers across major cities such as New York, Boston, San Francisco, Los Angeles, Seattle, and the Washington, D.C. region.
Boston Properties is distinguished by its in-house building management expertise and a strong reputation for responsiveness to tenants' needs. The company’s full-service regional offices play a vital role in acquiring, developing, and managing properties, ensuring high-quality service and maintenance. The company's development track record includes premium CBD office buildings and suburban office centers, contributing to its high standing in the real estate market.
Recent achievements and current projects highlight Boston Properties' commitment to sustainability and innovative design. The company continuously seeks opportunities to enhance its property portfolio and further strengthen its market position through strategic partnerships and developments.
Financially, Boston Properties maintains a robust balance sheet and a disciplined approach to capital allocation. This financial stability supports its ongoing growth initiatives and provides a strong foundation for future opportunities.
Stay informed with the latest updates and relevant information about Boston Properties’ performance, events, and developments by visiting StockTitan regularly.
Läderach-chocolatier suisse has opened a new premium chocolate store at the Prudential Center in Boston, enhancing the holiday shopping experience. This store features over 85 varieties of handcrafted chocolates, including the iconic FrischSchoggi™ chocolate bark. It marks Läderach's third store opening in Massachusetts since September 2021 and the 33rd in North America since its expansion began in November 2019. The opening is part of Läderach's ongoing commitment to providing sustainable, fresh chocolate sourced directly from Switzerland, with plans for further retail expansion in 2022.
Boston Properties (NYSE: BXP) has announced a significant lease agreement for its 751 Gateway project in South San Francisco. A leading biotech company will occupy the entire 229,000 square foot space, which is under construction and expected to be ready for occupancy in early 2024. This project marks the first phase of a larger life sciences campus at Gateway Commons, in collaboration with Alexandria Real Estate Equities. Boston Properties holds a 49% stake in the venture, which is strategically located near key transportation and amenities for the life sciences sector.
BXP Life Sciences has announced the leasing of 166,000 square feet at its life sciences conversion project located at 880 Winter Street, Waltham, Massachusetts. This project, approximately 70% pre-leased, is expected to be completed in the second half of 2022. The new tenants include TScan Therapeutics, RVAC Medicines, and EdiGene, highlighting the project's appeal to life sciences organizations. BXP continues to develop its portfolio, with over 3 million square feet focused on life sciences across various markets.
Boston Properties (NYSE:BXP) has announced that Food52, a leading online cooking brand, will relocate to Dock 72 at the Brooklyn Navy Yard, signing a 12-year lease for 42,000 square feet on the entire 13th floor. The move, planned for the second half of 2022, reflects Food52's commitment to integrating content and commerce in a collaborative workspace.
Dock 72, opened in 2019, features state-of-the-art amenities and is positioned within Brooklyn's growing tech hub, benefitting from a $1 billion expansion of the Navy Yard.
Boston Properties, Inc. (BXP) reported a Q3 2021 revenue increase of over 5% to $730.1 million, with net income of $108.3 million or $0.69 per diluted share. The company signed 1.4 million square feet of leases, including a notable lease with Wellington Management for 524,000 square feet. BXP entered the Seattle market by acquiring Safeco Plaza for approximately $465 million. The company projected 2022 EPS between $2.97 and $3.17 and 2022 FFO from $7.25 to $7.45 per diluted share.
Boston Properties, Inc. (NYSE: BXP) announced the full redemption of $1.0 billion in senior unsecured notes (3.85% Notes) on October 15, 2021. The redemption price is approximately $1.05 billion, including $7.9 million in accrued interest. This action is funded by proceeds from an $850 million offering of 2.45% Notes due 2033, alongside other financing sources. The firm anticipates a loss from early extinguishment of debt of about $43.9 million, or $0.25 per diluted share, in Q4 2021.
Boston Properties, Inc. (NYSE: BXP) has announced the development of View Boston, a 59,000 square foot observatory at Prudential Center in Boston, set to open in 2023. This venue, Boston's only observatory, will feature immersive exhibits, a cocktail lounge, and a 360-degree outdoor viewing deck, spanning the top three floors of Prudential Tower. Aimed at both locals and tourists, View Boston promises to enhance the city's experience by hosting various special events. The project is being constructed by Turner Construction Co. and designed by Perkins & Will.
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